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Nitin Spinners Ltd.

BSE: 532698 Sector: Industrials
NSE: NITINSPIN ISIN Code: INE229H01012
BSE 00:00 | 24 Sep 196.70 -4.05
(-2.02%)
OPEN

201.00

HIGH

201.95

LOW

196.00

NSE 00:00 | 24 Sep 196.55 -4.40
(-2.19%)
OPEN

201.25

HIGH

203.90

LOW

195.00

OPEN 201.00
PREVIOUS CLOSE 200.75
VOLUME 6274
52-Week high 295.00
52-Week low 34.95
P/E 8.01
Mkt Cap.(Rs cr) 1,106
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 201.00
CLOSE 200.75
VOLUME 6274
52-Week high 295.00
52-Week low 34.95
P/E 8.01
Mkt Cap.(Rs cr) 1,106
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Nitin Spinners Ltd. (NITINSPIN) - Chairman Speech

Company chairman speech

We at Nitin Spinners are geared up for the upcoming year with all positivity in lightof the unprecedented time. With our differentiated strategy marked by innovation andsustainable practices we will strive to maintain our top-line growth momentum byoptimising capacity utilisation and thrust on value-added products

Dear Shareholders

I am pleased to share with you the glimpses of the year gone by. When we stepped into2020 very few had foreseen the profound challenges that the world and we would face inthe months to follow. After Covid-19 triggered a healthcare catastrophe and a colossaleconomic disruption around the globe today when we look back we are amazed by theagility and the effectiveness with which we navigated the crisis despite all thechallenges of lock downs restrictions on travel and running the operations whileensuring the safety of the workforce.

We are proud to present you the Annual Report of 2020-21 with the remarkable toplinegrowth of 13% and bottomline growth of 189% witnessed in the time of a global pandemic.In the course of the year we have maintained steady growth in all our segments and haveachieved highest ever turnover and profits of Rs.1624 Crores and Rs.69 Croresrespectively.

I am happy to announce that the Board of Directors have recommended a dividend ofRs.1.50 per Equity Share.

Our financial metrics are the indicator of our resilience and growth. Our strongproduct portfolio has helped us boost our business growth and deepen our connection withthe consumers across markets and operational categories. Optimum utilisation of capacitiesand cost efficienices also helped to achieve these results.

Export Award

I am delighted to share with you that the Company has been conferred with the followingprestigious Texprocil Awards

TEXPROCIL Silver Trophy for the second highest export performance in Cotton Yarn -Counts 50s & below under Category III for the year 2019-20

TEXPROCIL Gold Trophy for the highest export performance in Cotton Yarn - Counts 51s& above under Category I for the year 2019-20

Thriving Together in New Normal

Our cutting-edge manufacturing facilities and strong focus on R&D help usconstantly innovate our products. This assists us in meeting the demands of theever-burgeoning consumer base worldwide. We are aligned to evolve our brand portfolio intodifferent value-adding products to fuel the growth and keep us in accordance with ourvision and mission.

Our new composite textile project to manufacture Cotton and Blended yarns and Grey& Finished Woven Fabrics has been firmly established in terms of quality productivityand acceptance of products. The infrastructure helped us expand our presence into thevalue-adding products. Our Finished Woven Fabrics are supplied to well-known domestic andinternational brands globally.

Sustainable Environment Friendly and Response to Covid-19

The world is currently going through a significant crisis and we at Nitin understandour responsibility and duty towards our employees and the society. We have establishedmultiple Covid centres on the Company campus providing quarantine facilities to thepeople affected. Proper tracking of health parameters is of utmost priority and we followit unfailingly. In addition we constantly extend our help towards the localadministrations for the people reeling under the virus and vaccination drive.

Our operations are rooted in sustainability and mandating optimal utilisation ofresources to conserve the environment. We have several practices in place which help uscreate a harmonious balance with the planet. We are increasing the use of sustainablefibres in our product range promoting the use of green energy and ensure a zero liquiddischarge.

As a part of community development we are constantly creating employment opportunitiesand conducting several awareness drives in the areas of cleanliness social issues andeducation.

Way Forward

We at Nitin Spinners are geared up for the upcoming year with all positivity in lightof this unprecedented time. With our differentiated strategy marked by innovation andsustainable practices we will strive to maintain our top-line growth momentum byoptimising capacity utilisation.

We look forward to enhance value-added products in our portfolio and continue to yieldhigher profitability. We will focus on debottlenecking our existing manufacturingfacilities to increase the production base. At the same time we will continue to offerinnovative and value-added products and explore newer markets across the geographies.

Gratitude to All

I express my sincere gratitude to our Shareholders Bankers Customers SuppliersState and Central Governments Board of Directors and Committed Employees who stood byus in these trying times. We hope to emerge out of the ongoing situation better than ever.I hope and pray for the well-being and prosperity of all.

Regards

R.L. Nolkha

Chairman

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